ZRXBTC TRADE SETUP
Updated
Following the article on correlation, I present ZRXBTC for a long trade and practical example of the importance of 18/03/2018.
As we see, a cycle ended at 27/01/2018 high in a 5 waves up (RSI divergence in 4H and daily timeframe), so according to EW, this is calling for another 5 waves up. All cycles identified by vertical lines ends very precisely at 100% extension of the first leg of the cycle (all corrective in nature, despite the amplitude of each cycle), and at 0.00004819, we reached convergence of 3 major cycle ending and last one being truncated at 61.8%-78.4% which is quite common.
On 19/03/2018, those cycles ended and the highest degree as shown here with RSI breaking up its downtrend line.
So from here, I propose buying 0x token against BTC from this level and lower if reached with stop below the 19/03/2018 low and target 0.00226-0.000268
As we see, a cycle ended at 27/01/2018 high in a 5 waves up (RSI divergence in 4H and daily timeframe), so according to EW, this is calling for another 5 waves up. All cycles identified by vertical lines ends very precisely at 100% extension of the first leg of the cycle (all corrective in nature, despite the amplitude of each cycle), and at 0.00004819, we reached convergence of 3 major cycle ending and last one being truncated at 61.8%-78.4% which is quite common.
On 19/03/2018, those cycles ended and the highest degree as shown here with RSI breaking up its downtrend line.
So from here, I propose buying 0x token against BTC from this level and lower if reached with stop below the 19/03/2018 low and target 0.00226-0.000268
Note
A cycle from 7277 is over. Now, either we break above 7277, either it fails and we head for a double correction. Looking at the structure from the intermediary low, third wave exceeded 161.8% of first wave, and RSI started divergence (1h timeframe). So I expect a shallow pullback soon, and a 5th wave that will add conviction to the view.However, I do not need a 5 waves motive up as corrective waves can suffice (but it is slower and we still remain under the pressure of bears).
I remind that in my views, a market can trend in corrective waves (which is not what EW proposed).
Market will tell.
Note
Spot on. The move was indeed "big". 3 waves up for now from 4765. I do not need an impulse (motive 5 waves) in the first cycles to reach my targets.
I cannot raise my stop to BE for now as a cycle might have ended. So partial profit at 100% extension and now stop below 4765 for a risk free position with hopefully a nice return.
Note
Cycle completed at 27/03/2018 high and pullback at 7256. Cycle ended means that because the move was 3 waves up, we are still in corrective mode and no more bullish sequence to confirm higher (means that nothing says it cannot go lower from here). From current level, either 7256 holds and we go higher to 11991-13108. If level fails to hold, then double correction projects 6151-5299. Invalidation level to the upside is 4765.If it goes there, I buy again.
Note
Still in play and follow nicely the path. First attempt possible in 1h time frame for double correction. Levels given in Discord channel. If time allows, will publish Idea separately here.Note
Great trade so far. update for patrons on 1h time frame for other entries.Note
Without any doubt my best trade of the first quarter! BTC is a sure value, but got few altcoins out there that will outperform in coming months! Exciting time.Note
spike during US session that took out 9500 opening door to 11,772-12,889. need to stay 7,037 to avoid FLAT.on those spike, probably some short squeeze. Does not really matter in the end, only price and levels matter...
Note
Ah that One. Reached 61.8%-78.4% extension of cycle from 19/03/2018 low and retraced. Tough cookies those spikes for EW count! Where do we go next? Nowhere, we wait, as long as above 7037, for 11,772-12,889.
Note
Trade from 21/03 is amazing ... New count available with intermediate milestones available in new IdeasTrade closed: target reached
What a ride! Count has been updated of course since I took the trade. 10,920: we reached 100% extension of cycle from 01/04/2018 low which coincide to 78.4% extension of cycle from 19/03/2018 low.initial risk 2% of capital, reward 8,70% of capital ...
Will buy lower again as we now have a bullish sequence in 4h TF
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